Roku IPO valuation nearly doubles in two sessions

Shares of Roku Inc. soared in active trade Friday, as the streaming-device company tacked on more than $1 billion to its market capitalization in just its second day as a public company.

Roku ROKU, +12.94% stock shot up as much as 27% to an intraday high of $29.80 Friday, more than double the initial public offering price of $14 a share, before closing up 13% at $26.54. Trading volume topped 43.8 million shares, making the stock one of the most actively traded on the Nasdaq Friday, second only to shares of Micron Technology Inc.MU, +3.61% which saw 46 million shares change hands.